AzFinance`s net profit decreased by 20%


September 7, Fineko/abc.az. Although investment company AzFinance completed 2019 with net profit of AZN 261,000, its net profit decreased by 20% against 2018.

ABC.AZ informs that according to company's annual report, AzFinance finished 2018 with net profit of AZN 328,000.

It is clear from the report that the decline in company's net profit is linked with lagging in its earnings.

For example, last year company's operating income fell from AZN 3.105 million to AZN 1.849 million (decreased by AZN 1.256 million or 40%).

The largest decrease was observed on portfolio management. Thus, compared with 2018, last year AzFinance's revenues from portfolio management declined by 41% to AZN 1.31 million.